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1. Which countries consume the most dung and how do the energy statistics in the BP Statistical Review account for it?
2. Explain why consumption of a particular energy source typically ceases long before the stock of supply is exhausted.
3. Factor demands can be derived from firm profit maximization or from cost minimization at the profit-maximizing level of output. How do these factor demands differ?
4. Cost equations are often used to obtain factor demands. How can factor demands be obtained from a cost equation? Why would one obtain factor demands this way instead of obtaining them from the profit maximization problem directly?
5. Provide a simple example of a single-equation single-fuel demand equation that you could estimate using linear regression?
6. Why estimate energy demand models? What sorts of questions can be addressed by using estimates of a demand model?
Tennessee just instituted a state lottery. The initial jackpot is $100,000. If the first week yields no winners, the next week's jackpot goes up, depending on the numbers of previous players who placed the lottery bets. The probability of winning ..
in 2006 congress estimated that the cost of the iraq war was approximately 100 billion a year. since the us govt was
Discuss what has occurred to change the demand for or the supply of the meats, market prices of the meats and its price elasticity of demand.
(i) Calculate the principal that will earn a total of £2,535 in 4 years at 3¼% simple interest per annum. (ii) Calculate the amount of interest earned in the first year
Explain the theory behind the traditional short-run Phillips curve and draw the traditional short-run Phillips curve.
What do you make of Karl Marx's contributions to sociology? What perceptions of Marx have you been exposed to in your society, and how do those perceptions influence your views?
Discuss the four major economic flows that link the United States with other nations and provide a specific example to illustrate each flow.
You are the new owner of Drespie Corn Products and Refineries. You are interested in your company's cost and revenue relationships as well as its future pricing strategies. Accordingly, you have developed the following relationships, which you bel..
Suppose that the production function were . Assume that A = 100,000, and that the current level of the capital stock is 10,000.
Suppose that technophiles are willing to pay $400 now for the latest iPhone, but only $300 if they have to wait a year. Normal people are willing to pay $250, and their desire to purchase does not vary with time. Ignore the time value of money a..
where a is a parameter between zero and one that measures the influence of national income on investment and b is a parameter greater than zero that measures the influence of the interest rate on investment.
Price can be substituted for marginal revenue in the MR = MC rule when an industry is purely competitive because price minus cost equals marginal revenue. and marginal cost are the same in pure competition. is the same as average revenue.
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